Chainlink Price Analysis: LINK Price Can Touch The Level Of $40

chainlink ready for a new high
  • LINK price is currently trading above the consolidation phase after making all time high of $36.83 on Feb 20 ,2021
  • Chainlink Price is currently trailing at the value of $29.33 with a gain of 17% in 24 hour time period and 18.95% gain in a week
  • Link/BTC pair is currently trading at the value of 0.0006120 BTC  with an intraday gain of 11.27%

The technical chart of LINK highlights “Bulls Are On Run” in today’s trading session. The current price of Chainlink coin is at the level of $29.80 while the major support is at $24 and major resistance is at $31.50.The coin volume has seen a gain of 79.54% and is currently at the level of $2,935,689,988.The market capitalization is at the value of $29,667,888,890 with a gain of 16.67%.Chainlink coin price is currently trailing slightly above the consolidated channel. If the coin crosses above the supply zone  then it will reach to the higher levels upto $50 

Chainlink (LINK) Technical Analysis

Chainlink current price has seen a gain of 17% in today’s trading session.The current scenario of LINK coin depicts a rally above the consolidated zone.The coin forms a bullish pattern on today’s trading session,suggesting that the buyers are getting active in the coin.

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The coin is at 50 and above 200 Exponential Moving Average. The blue line of 50-EMA is currently at the level of $24.82 and making it temporary support. LINK/BTC pair is forming a bullish candle which suggests that the price may see an uptrend.

MACD(Bearish): It has given a negative cross over signal in the daily chart on FEB 20,2021. Bars of the histograms are also showing negative momentum. The overall sentiment of MACD is bearish. 

RSI(Bullish): It is travelling at the value of 55.69, showcasing its presence in the oversold zone. A  positive  slope is formed in RSI, highlighting that the price may see an uptrend in the upcoming days.There is a lower low trend line formation in the RSI which is also a sign of positive retracement in the price 

Conclusion

Chainlink coin has seen a gain of 17% in today’s trading session and made a 52 week high on Feb,20 2021. Technical Indicators gives a positive signal for the coin.LINK/BTC is performing positively and is above the support of 50-EMA. An Investor should do their due diligence before investing.

Technical Levels

Major Resistance:$31.5
Major Support:$24

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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